James F Farr Academy Inc
- Assets
- $7.3m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 80
- Location
- Cambridge, MA
- Founding
- 11/1972
- Data as of
- 06/2023
- EIN
- 04-2502446
Organization Overview
James F Farr Academy Inc is located in Cambridge, MA. The organization was established in 1972. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2023, James F Farr Academy Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. James F Farr Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, James F Farr Academy Inc generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDER OF EDUCATIONAL AND SUPPORT SERVICES FOR INDIVIDUALS WITH SPECIAL ACADEMIC, BEHAVIORAL, AND EMOTIONAL NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FARR ACADEMY: A DAY SCHOOL FOR INDIVIDUALS WITH SPECIAL ACADEMIC, BEHAVIORAL, AND EMOTIONAL NEEDS. AN AVERAGE OF 22 INDIVIDUALS WERE SERVED IN FISCAL YEAR 2023.
FARR ACADEMY: A SUMMER PROGRAM FOR INDIVIDUALS WITH SPECIAL ACADEMIC, BEHAVIORAL AND EMOTIONAL NEEDS. AN AVERAGE OF 18 INDIVIDUALS WERE SERVED IN FISCAL YEAR 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael T Culhane Ceo/president/treasurer | OfficerTrustee | 40 | $305,941 |
Bonnie K Culhane Trustee/program Advisor | Trustee | 1 | $0 |
Douglas Dicerbo Trustee/clerk | OfficerTrustee | 1 | $0 |
John Kiley Trustee | Trustee | 1 | $0 |
Dean Lucente Trustee | Trustee | 1 | $0 |
Greg Susco Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $413,456 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,773 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $417,229 |
| Total Program Service Revenue | $2,288,966 |
| Investment income | $72,444 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,732,810 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $337,401 |
| Compensation of current officers, directors, key employees. | $113,478 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,283,429 |
| Pension plan accruals and contributions | $150,858 |
| Other employee benefits | $362,633 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,489 |
| Fees for services: Accounting | $24,333 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $122,429 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $222,832 |
| Travel | $65,847 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $176,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,500 |
| Insurance | $0 |
| All other expenses | $320,076 |
| Total functional expenses | $3,205,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $487,213 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $528,565 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $54,414 |
| Net Land, buildings, and equipment | $3,304,757 |
| Investments—publicly traded securities | $2,842,803 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,445 |
| Total assets | $7,275,197 |
| Accounts payable and accrued expenses | $197,236 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,208,178 |
| Unsecured mortgages and notes payable | $20,695 |
| Other liabilities | $58,321 |
| Total liabilities | $4,484,430 |
| Net assets without donor restrictions | $2,780,665 |
| Net assets with donor restrictions | $10,102 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,275,197 |